The nature of trust in brands: a psychosocial model (original) (raw)

Risk Reduction and Trust Building Strategy for Consumers: An Explanatory Power of Branding

The paper examines branding as a risk reduction and trust building strategy for consumers. When consumer uses a brand and his/her need is not satisfied, then he/she may not use same brand again, and in that case the consumer has experienced risk from buying the product and lost his/her trust on not only the product, but also on the company that produces it. Loosing trust is a grave risk for the company. Trust in a product is different from interpersonal trust because a brand is a sign. Unlike a salesperson, this sign is not capable of reacting to the customer. To make it react and survive in today's marketplace, there is need to structure and sustain trust in its customer relationship as an antidote for consumer risk. This being the imperative for this investigation lays on the fact that business practices especially marketing are moving away from a purely product-based to customer-based as such reducing consumer risk and keeping them closer to the company and its offer is a sine-qua-non for success. The paper employed a desk top research method and drew information from past literatures. From the investigation, it was found that brand reduces risk and increases trust through hedonic and utilitarian dimensions of the brand. The paper concludes that with brand trust, risks are reduced and consumer's problem moves away from what to buy to when to buy. The recommendation was that trust increase and risk reduction are bilateral, firms should seek consumers' opinion via market research by which means the hedonic and utilitarian dimensions/requirements would be discovered and built-in in brand development process

Philosophy and Consumption: Discussions on Trust and Brands

Advances in Consumer Research, 2008

Consumers' brand trust makes brands more powerful. Moreover, whereas trust is part of good relationships, trust relationships often involve vulnerability. Further, trust is inherently asymmetrical, suggesting profound consequences for its ethical communication. By approaching discussions on trust and brands philosophically, we expanded approaches to, and investigations into, trust's modes, manifestations, and mappings that offer potentially productive insights for consumer research. Past years' Philosophy and Consumption roundtables have focused on 1) issues of materiality and 2) epistemological and ontological foundations and inspirations for consumer research. In this year's roundtable, discussions continued with a focus on "Trust and Brands".

Trust and Risk Perspectives of High Value Brands

Academy of Marketing Studies Journal, 2019

Brand trust is considered to be central in brand building, both in the cases of B2C, when customers face risky situations and costly purchases and in B2B where purchases are based on rational decision such as product functionality, quality, price and reliability considering the personality traits and imagery irrelevant. When customers perceive risk in their buying decision they tend to play safe and forgo the perceived benefits. Customers adopt trust as a shortcut to avoid complex decision processes that carry risk. After reviewing 148 research articles from reputed journals on brand trust and brand risk, it was found that, the perspectives of brand trust and brand risk are the same for brand characteristics, brand rationality and brand loyalty. Connecting the literature, a conceptual model was developed for understanding the perspectives of trust and risk of high value brands. The model reveals that risk reduction from brand’s characteristics, rationality, safety and security (stru...

Consumers' trust in a brand and the link to brand loyalty

Journal of Market-Focused Management, 1999

Brands are important in the consumer market. They are the interface between consumers and the company, and consumers may develop loyalty to brands. This study proposes that trust in a brand is important and is a key factor in the development of brand loyalty. Factors hypothesized to influence trust in a brand include a number of brand characteristics, company characteristics and consumer-brand characteristics. Respondents representing a broad spectrum of Singapore consumers were surveyed. The findings reveal that brand characteristics are relatively more important in their effects on a consumer's trust in a brand. The results also show that trust in a brand is positively related to brand loyalty. Marketers should, therefore, take careful consideration of brand factors in the development of trust in a brand.

DEVELOPMENT AND VALIDATION OF BRAND TRUST SCALE

To enrich the limited and recent work existing about relational phenomena in the consumer-brand domain, the authors focus on the concept of Brand Trust. The nonexistence of a wider accepted measure of this concept is surprising due to the fact that: (1) trust is viewed as the cornerstone and one of the most desired qualities in a relationship and, (2) it is the most important attribute any brand can own. In this context, this article reports the results of a multistep study to develop and validate a multidimensional brand trust scale drawn from the conceptualizations of trust in other academic fields. Multistep psychometric tests demonstrate that the new brand trust scale is reliable and valid. 4 The ultimate goal of marketing is to generate an intense bond between the consumer and the brand, and the main ingredient of this bond is trust (Hiscock 2001 p.1).

Development and Validation of a Brand Trust Scale

International Journal of Market Research, 2003

To enrich the limited and recent work in existence on relational phenomena in the consumer-brand domain, the authors focus on the concept of brand trust. The non-existence of a wider accepted measure of this concept is surprising given that: (1) trust is viewed as the cornerstone and one of the most desired qualities in a relationship; and (2) it is the most important attribute a brand can own. In this context, this research reports the results of a multi-step study to develop and validate a multidimensional brand trust scale drawn from the conceptualisation of trust in other academic fields. Multi-step psychometric tests demonstrate that the new brand trust scale is reliable and valid. Both theoretical and managerial implications are presented.

The Relation of the Consumer Trust and Brand Loyalty

2017

With the increase of product variety, there is a great competition in everything from food to textiles, automotive to technology. Today, it seems that brand management studies have been used in a wide range of areas from the category of fast consumer goods to the service sector. Regardless of the sector, it has been noticed that products have a stronger position than brand management studies and competitors. The desire of companies to make a difference between products has led to the emergence of the concept of branding. Within the framework of this competition firms are striving to retain customers and create loyalty. In this study, which will be formed to explain the relation between trust and brand loyalty that consumers have in the brand, a field study has been carried out in the light of theoretical information that will be obtained as a result of the literature review, in which a national brand activity in Konya examines the brand loyalty relation on the customers of a market ...

The role of brand authenticity in developing brand trust

Journal of Strategic Marketing, 2018

Purpose-This paper investigates consumer perceptions of brand authenticity (BA), perceived value (PV) and brand trust (BT) into the context of craft beer market. The purpose of this paper is to examine the statistical associations between these constructs as well as the three antecedents of BA: individuality, consistency and continuity. Design/methodology/approach-The survey, delivered in an online format, was completed by 749 respondents from the USA. These respondents were gained through a basic simple random sampling technique. After conducting data analysis techniques such as reliability, correlation and regression, all five research hypotheses were accepted. Findings-All three antecedents of BA were found to have significant influence on the first-order construct. Also, BA was shown to have a substantial effect on both PV and BT. The relationship between brand individuality and BA was the most significant of the five, while the association between BA and PV was found to be the least significant. Originality/value-Prior research on BA, the majority of which has involved a qualitative approach, has been severely limited. The authors' work deepens the study of the effects of BA, or its various antecedents, on PV and BT, enhancing the research with an empirical, quantitative analysis. In addition to the shortage of investigation related to these factors, there has been a nearly complete absence of the application of these variables to the craft beer market.

Through the looking glass: The factors that influence consumer trust and distrust in brands

Psychology & Marketing, 2018

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THE INFLUENCE OF BRAND IMAGE ON PURCHASE BEHAVIOUR THROUGH BRAND TRUST.

This review critically reviews the article The Influence of Brand Image on Purchase Behaviour through Brand Trust in the Business management & strategy Journal published by the marcrothink Institute. The review will first summarize the article. Then, a brief analysis of the article structure, investigating how the investigation is set out and whether the reader can access its efficiently. Thirdly, the review will critique the article, evaluating its authority, currency, objectivity and coverage. The review will also analyse the graph & and tables before finally judging the article’s accessibility and credibility. To put two and two together, the article was a scholarly one, succinct and relevant. KEYWORDS: BRAND, TRUST, IMAGE, PURCHASING, BEHAVIOUR